Citigroups 540% BitMine Bet Meets Breakdown Risk — Where Is the BMNR Price Headed?

The BitMine stock price has started showing early signs of recovery. BMNR rose 6% on Feb. 13 before closing and is up 7.32% over the past five days. This rebound comes even as Ethereum, which BitMine closely tracks due to its ETH treasury exposure, has fallen 3.3% over the past week. This divergence suggests BitMine’s stock price may be trying to catch up.

BMNR charts also show that this rebound may be weak despite big players like Citigroup increasing BMNR holdings quarter-on-quarter. The bearish…